BidaskClub Downgrades QUALCOMM (QCOM) to Hold

BidaskClub downgraded shares of QUALCOMM (NASDAQ:QCOM) from a buy rating to a hold rating in a report issued on Monday.

A number of other research analysts have also recently issued reports on the stock. Barclays initiated coverage on shares of QUALCOMM in a report on Thursday, September 13th. They set an overweight rating and a $95.00 price objective for the company. Deutsche Bank upped their target price on shares of QUALCOMM to $70.00 and gave the stock a hold rating in a report on Wednesday, September 19th. KeyCorp began coverage on shares of QUALCOMM in a research note on Tuesday, September 25th. They issued a sector weight rating for the company. Canaccord Genuity dropped their price target on shares of QUALCOMM from $88.00 to $86.00 and set a buy rating for the company in a research report on Tuesday, September 25th. Finally, Stifel Nicolaus upped their price objective on shares of QUALCOMM from $58.00 to $62.00 and gave the stock a hold rating in a report on Thursday, September 27th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $70.44.

Shares of QUALCOMM stock traded up $1.09 during trading hours on Monday, reaching $57.89. 587,486 shares of the company’s stock were exchanged, compared to its average volume of 13,346,814. The company has a debt-to-equity ratio of 16.56, a current ratio of 1.55 and a quick ratio of 1.40. The company has a market cap of $68.62 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.73 and a beta of 1.40. QUALCOMM has a fifty-two week low of $48.56 and a fifty-two week high of $76.50.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 7th. The wireless technology company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.20. QUALCOMM had a negative net margin of 21.40% and a positive return on equity of 26.21%. The business had revenue of $5.83 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the business posted $0.92 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts expect that QUALCOMM will post 3.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Wednesday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 77.74%.

In other news, EVP Donald J. Rosenberg sold 6,297 shares of QUALCOMM stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $55.22, for a total value of $347,720.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 853 shares of QUALCOMM stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $63.50, for a total value of $54,165.50. Following the completion of the transaction, the executive vice president now owns 4,344 shares of the company’s stock, valued at approximately $275,844. The disclosure for this sale can be found here. Insiders have sold a total of 34,521 shares of company stock valued at $2,030,355 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Csenge Advisory Group purchased a new stake in QUALCOMM during the third quarter worth $28,000. Bell Rock Capital LLC acquired a new stake in QUALCOMM during the third quarter worth about $101,000. Moneta Group Investment Advisors LLC increased its stake in QUALCOMM by 9,686.8% during the second quarter. Moneta Group Investment Advisors LLC now owns 74,282 shares of the wireless technology company’s stock worth $105,000 after acquiring an additional 73,523 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its position in shares of QUALCOMM by 195.0% in the third quarter. Sterling Investment Advisors Ltd. now owns 1,549 shares of the wireless technology company’s stock worth $112,000 after buying an additional 1,024 shares during the period. Finally, Kiley Juergens Wealth Management LLC boosted its position in shares of QUALCOMM by 1,760.0% in the third quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock worth $133,000 after buying an additional 1,760 shares during the period. 89.58% of the stock is currently owned by institutional investors.

About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Analyst Recommendations for QUALCOMM (NASDAQ:QCOM)

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